There was a lot of positive news today in the world of small caps, starting with Motif Bio (LON:MTFB) where the pieces of the regulatory jigsaw are starting to fit into place.
The firm announced it has landed fast track designation for its next generation antibiotic, Iclaprim.
It means the drug will in all likelihood qualify for a priority review by US Food & Drug Administration (FDA) when results from its upcoming phase III study are collated.
Speaking of Motif, medical and tech business developer Amphion Innovations (LON:AMP) saw its net asset value (NAV) per share race higher in the first half of the year.
NAV per share at the end of June stood at 12p, up from 0.7p at the end of 2014, largely as a result of the flotation in April of one of its portfolio companies, Motif Bio.
In other pharma news, Collagen Solutions (LON:COS) said NovaBone Products, one of its long-term clients, has received US Food & Drug Administration approval for a new device that makes collagen products easier to use
Elsewhere, Redx Pharma (LON:REDX) and Horizon Discovery (LON:HZD) are teaming to co-develop a next generation cancer treatment.
Horizon’s gene editing, cell line and drug discovery technology will be used to assess the mode of action of Redx’s pan-RAF inhibitors.
There was a team up in the mining world too, where Rambler Metals and Mining (LON:RMM, CVE:RMB) has agreed to merge with Thundermin Resources (TSXV:THR), a move that will give it full control of the Little Deer and Whalesback copper assets in Canada.
Rambler will issue shares to Thundermin shareholders at a price of equivalent to C$0.013 per share.
In other mining news, Amur Minerals (LON:AMC) said first results from this year’s drill programme at Flangovy at Kun-Manie in Far East Russia had confirmed the deposit is larger than previously reported.
Three holes were drilled, but one 'step out' hole 400 metres to the east of the last main intercept had indicated significant mineralisation and extends the Flangovy area of the Maly Kurumkon/ Flangovy deposit by 40% to 1,250m.
Meanwhile, Minera IRL (LON:MIRL) confirmed that Jaime Pinto has been appointed as a director of the company and he will be the new non-executive chairman.
African Potash (LON:AFPO) unveiled its third supply agreement on the African continent in a matter of days.
The fertiliser specialist has signed a memorandum of understanding (MOU) with a Zimbabwean company to supply 150,000 metric tonnes of fertiliser annually.
In oil news, Mosman Oil & Gas (LON:MSMN) confirmed it has signed an agreement for the acquisition of producing assets in New Zealand.
It is acquiring the project, which comprises a number of fields and will be branded as the South Taranaki Energy Project (STEP), for NZ$10mln which equates to about £4.2mln.
Elsewhere, Range Resources (LON:RRL) has confirmed the closing of its US$30mln funding from Beijing Sibo Investment Management.
In earning news, recruitment firm Empresaria (LON:EMR) expects to beat market estimates this year after a strong first half, despite currency head-winds in a number of areas.
The group, which supplies permanent and temporary staff in 18 countries, said net fee income rose by 12% over the six months to June as the number of permanent placements in finance continued to rise.
Meanwhile, Legal services specialist Fairpoint (LON:FRP) hiked its dividend again as first half sales surged.
Finally, Forbidden Technologies (LON:FBT) expects the benefits of a recent restructuring to start showing through in the next six months.
The video editing specialist has re-focused on sports and its consumer video editing platform eva, moves that affected its first half numbers but which it is confident will pay off over the longer term.